Master P Owes Uncle Sam Millions… Hit With Federal Tax Lien

Whither gold tanks?

Master P is the latest rapper to be hit with a massive tax bill. The former No Limit head apparently owes the IRS around $1.5 million, and he’s refusing to pay up. So, the folks over at the IRS have hit him with a lien.

The Blast reports that the unpaid taxes in question come from more than a decade ago. Via the gossip website:

“Master P owes taxes from 2004 ($1,199,769.48), 2005 ($305,245.73) and 2008 ($4,447.50). The grand total for the unpaid taxes comes to $1,509,462.71.”

They add that the agency is considering seizing the assets and property of Percy Miller if he doesn’t come around to their way of thinking.

“Many business people and celebrities have their eyes on the new professional basketball franchise in New Orleans,” he wrote on Instagram. “But today, Percy Miller was able to close the deal with the GMGB organization,” the press release/IG caption read. It continued:

“Mr. Miller was born and raised in New Orleans and basketball has been a passion of his since childhood. Owning the New Orleans Gators is a great fit for him and the City, bringing family entertainment and basketball together in one arena is exciting for the community. Putting professional men and women athletes on the basketball court at one time is unique. And giving women equal pay as the men will even the playing field in the Global Mixed Gender Basketball League.”

Sound Off

Credit: Robin Marchant/Getty Images

It’s also not the first time that Master P has been in the news over funny money. He and Kodak Black went back and forth on social media after the young rapper accused Miller of asking him for money to provide mentorship.

Master P denied the claims and said that he was merely trying to warn Kodak away from his lawyer, who he views as dishonest.

“The real story is how much money does Theo Sedlmayr make off Kodak Black,” he said in an Instagram caption.

Master P said that he never approached Kodak Black with a business proposition. He said that their meeting was much more casual and facilitated by The Breakfast Club host Charlamagne Da God. He added that Kodak reached out for help and that he felt the need to give it to him, over the objections of his close associates.

A lot of people told me not to get involved with him but I’m about helping the next generation and I looked at him as just misunderstood. I treated him like a son. I never asked him for a dime, I never took any money from him.”

Miller added that he made no money from his interactions with Kodak and that he’d only spent money on the young rapper. He said that he wanted to help turn the tide for the legally troubled rapper, who he sees as surrounded by people who don’t have his best interests at heart.

He said that his goal was to “help [Kodak] build a positive image from the perception that he had out there already.”

He continued:

“I realized that his entertainment lawyers do not want him to learn the music business. They would rather keep him ignorant so that they can keep taking advantage of him. And they especially don’t want someone like me to be around him because they know I’m gonna keep it 100.”

What do you think? Is Percy in trouble? Where’s the gold tank money? Sound off in the comments and be sure to SHARE this article.

Trending on HipHopMyWay

Can we use your data to tailor ads for you? Our partners will collect data and use cookies for legitimate business purposes, ad personalization and measurement. We also collect anonymized personal data for legally necessary and legitimate business purposes. Read our PRIVACY POLICY.